Fighting Fraud with David Fletcher, SVP of ClearSale
How ecommerce companies and consumers alike are dealing with and fighting back against fraud
Fraud has been a problem for centuries. And there have been bad actors and people with ill intent since the beginning of time. What’s different today is the tools and methods that fraudsters are using, particularly when it comes to perpetrating fraud online. Both consumers and brands are in a constant battle against hackers and fraudsters who are gaming and attacking their defenses and stealing hundreds of millions of dollars. So to protect themselves and their cus, brands are putting strategies in place to limit their exposure to risk and stop fraud before it starts. But not only will that defense not last long because fraudsters are always coming up with new ways to run their schemes, more often than not the defenses a company sets up create a bad user experience for the very customers they try to protect.
David Fletcher is the Senior Vice President at ClearSale International, and he and his team are helping to create better solutions, fight fraud, and help ecommerce companies process more orders while giving users excellent experiences. What ClearSale does is more important now than ever before, particularly for ecommerce brands because of just how much the industry is exploding.
“Ecommerce businesses globally are booming,” Fletcher said. “Most ecommerce businesses or sites have really grown through the pandemic, and a part of that means fraud has grown as well. So just as the opportunity is looking better and more exciting for the eCommerce company, it looks better and more exciting for the fraudsters. And sadly as the businesses grow, the merchants grow, they get more and more attention from the fraudsters. So what’s starting to happen now, it wasn’t that long ago that fraudsters had to be very strategic in who they targeted and how they targeted them. Now, it’s much easier for them, they have a much larger field to choose from.”
And while the pool of potential targets is large, Fletcher said it only takes something small for fraudsters to get their schemes going.
“It’s amazing what these fraudsters can do,” Fletcher said. “They get a little bit of your information and then the next thing they get a lot of your information. And that’s the world of the internet, that’s the world we live in today. I can see your name on this Zoom call and then I can look you up, and then there’s People Finder and all these other memberships that you can have that will tell me everything about you, and that’s scary.”
But rather than being crippled by fear, everyday folks and businesses alike can fight back against the bad actors in the world. And ClearSale is doing its best to help. To hear about how, tune into Up Next in Commerce.
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